PNB (Permodalan Nasional Berhad) just announced the returns for one of their very popular and fully subscribed fund Amanah Saham Wawasan 2020 (ASW2020).
The returns from the fund was only 4%, the lowest in its operating history. However PNB stop short of saying that their funds outperformed the FBM KLCI index because the KLCI index had a -3.88% return during the period of review.
I foresee some selling of this fund after this announcement and it would likely be a good opportunity to pick up some of this fund. The low returns will persist for maybe another year before it recovers.
I am in the opinion that eventually when the vaccine for covid19 is widely used, the local Malaysia market conditions will improve and this will drive the recovery of the returns. Amanah Saham Wawasan is one of the many few fixed rate funds by PNB that can be subscribed by non bumiputera and as such it will always be in short supply.
🔗Links
https://www.asnb.com.my/asnbv2_4media.php